Saudi Arabian Refineries Company (SARCO) has announced that Raya Al-Tajdeed Contracting Company, 35%-owned by SARCO, has entered into a contract with a multinational education company to carry out construction works in the city of Riyadh.

The contract, with a value of SAR100 million ($26.6 million) was awarded on August 19, a Saudi Exchange filing said. 

Contract covers execution of construction and finishing works for projects owned by the multinational education company in Riyadh.

The duration of the contract is 24 months.

The contract was awarded to Advanced Industrial Supplies Company (Lawazim Industrial), which is 85% owned by SARCO’s subsidiary Masafi Ventures Company, according to another filing in Saudi Exchange.

The subcontract, signed on August 22 with Saudi Binladin Group’s Doors Division, covers the supply and installation of wooden doors for the housing project.

The contract has a duration of 12 months, with work expected to begin within the project schedule. SARCO said the financial impact of the contract on its business is expected to start in the fourth quarter of 2026. -TradeArabia News Service